Reuters Finance News, Australia

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MELBOURNE, May 9 (Reuters) - Telstra Corp Ltd (ASX: TLS.ax) , Australia's largest phone company, on Friday it reiterated its earnings forecasts for fiscal 2008,as the company starts to see the benefits of its five-year overhaul plan.

In a slide presentation to an investor conference, Telstra said it sees earnings before interest and tax rising by 6-8 percent this fiscal year, up from its previous forecast of up 5-7 percent.

The forecast is the same as that made in Telstra's half-year results presentation in February.

"We are now starting to drive acceleration on the bottom line as the benefits of transformation start to take effect," Chief Executive Sol Trujillo said in prepared remarks.

Telstra has been benefiting from an increase in customers in its high-speed Internet and advanced mobile services, as part of an overhaul to reduce dependence on declining fixed-line revenues. ($1=A$1.06) (Reporting by Victoria Thieberger)